102 DATASONIC GROUP BERHAD GOVERNANCE 05 STATEMENT ON RISK MANAGEMENT AND INTERNAL CONTROL KEY ELEMENTS OF THE INTERNAL CONTROL SYSTEMS OF THE GROUP (CONT’D) 3. Management Committees (Cont’d) i. Senior Leadership Management (Cont’d) The SLM meeting provides a forum for the Management to discuss on key management concerns and matters encompassing strategic and operational deliberation of key operational progress, risks, issues and challenges encountered in the undertaking of the significant projects as well as status of key resolutions decided upon by the Group. Appropriate action plans to resolve the issues or manage the risks are formulated and continuous updates were obtained in subsequent meetings from the respective parties assigned until satisfactory resolution of the action plans. Subsequently, statistical data and key risks that affect the operational activities are extended by the respective Executive Directors of subsidiaries at the Board meetings as applicable. ii. Corporate Disclosure Committee The Corporate Disclosure Committee (“CDC”) is established and responsible to ensure appropriate and timely corporate disclosures to shareholders, stakeholders and investors in accordance with the MMLR of Bursa Malaysia and applicable laws of Malaysia. iii. Integrity and Governance Committee In August 2021, the Integrity and Governance Committee (“IGC”) has been formally set-up in the Group which comprises of the Executive Directors and selected personnel from various disciplines within the Group. IGC is tasked to spearhead Anti-bribery Management System (“ABMS”) and Guidelines on Adequate Procedures (“GAPs”) related programmes. 4. Organisational Structures The Group has an organizational structure which defined accountabilities and responsibilities, and lines of reporting for each division and department established within the Group. The organisational structures provide the basic framework to help the Group’s operations to proceed smoothly and functionally as well as ensuring proper supervision, coordination and a sense of accountabilities among the employees. 5. Discretionary Authority Limits The Discretionary Authority Limits (“DAL”) defines and covers delegation of responsibilities for existing transactions as well as newly identified proposed transactions to the selected and authorized personnel for various aspects of operations in line with the Group’s strategies and risk appetite. The DAL will be reviewed from time to time in terms of suitability, relevance and applicability with business operations and activities. 6. Policies and Operating Procedures Policies and operating procedures governing the Group’s key businesses and operations are documented and approved by the Management or Heads of Department, as applicable. These policies and procedures provide guidance and direction for proper management and governance of operations and business activities. Continuous reviews are carried out on the adequacy, appropriateness and comprehensiveness of SOP developed to govern the business processes and activities of the Group, to ensure compliance with applicable laws and regulations as well as significant changes and development in business and operational environment.
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